Cellebrum to launch Rs 1,000-cr IPO

Riding on the success of the IPO of Spice Telecommunications, BK Modi-promoted Cellebrum.com Private Ltd is likely to hit the market with an IPO worth Rs 1,000 crore.

According to Paul Shoker, president (sales and marketing), the funds would be absorbed for further acquisition and growth.

Shoker said high market sentiments coupled with the burgeoning growth of telecom sector (India adds 6 million subscribers every month) create the ideal atmosphere to borrow from the capital market. "It can happen by the year end or early next year," said Shoker.

He added that the company was open to organic and inorganic growth. Cellebrum and the UK-based ICE 365 merged in June last year to become one of the largest entity developing community-based value added services in India. The company has its set up in Singapore and plans to penetrate further into Far East, West Asia and Europe.

He said the company was developing value-added services for the rural users which would be rolled out in four months.

This would introduce voice message SMS.He added that most of the people in the hinterland were not very literate therefore voice messages would help them gather information on weather, market etc in the vernacular languages.